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SmarTrend Watching for Potential Rebound in Shares of M&T Bank Corp After 2.25% Loss

By James Quinn

M&T Bank Corp (NYSE:MTB) traded in a range yesterday that spanned from a low of $156.76 to a high of $162.05. Yesterday, the shares fell 2.2%, which took the trading range below the 3-day low of $160.39 on volume of 457,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend recommended that its subscribers protect gains by selling shares of M&T Bank Corp on September 14th, 2018 by issuing a Downtrend alert when the shares were trading at $171.64. Since that call, shares of M&T Bank Corp have fallen 6.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, M&T Bank Corp share prices have been bracketed by a low of $155.77 and a high of $197.37 and are now at $157.62, 1% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.4%.

Keywords: rebounders m&t bank corp

Ticker(s): MTB